American Assets Trust (NYSE: AAT) chair Ernest Rady reports 193K-share stock buy

Rhea-AI Filing Summary

American Assets Trust, Inc. director, Executive Chairman and ten percent owner Ernest S. Rady reported open-market purchases of common stock through an affiliated trust. On 2026-08-11, ERT acquired 100,000 shares at $22.52 per share, and on 2026-08-10 it acquired 93,243 shares at $22.45 per share, both reported as indirect ownership "By ERT." Related holdings reported as of 2026-08-10 include 2,267,022 shares held by American Assets, Inc., 1,275,336 by Insurance Company of the West, 1,209,021 by Rady Foundation, 200,000 by Explorer Insurance Company, 107,859 by Evelyn Shirley Rady Trust, and 66,680 shares held directly in Ernest Rady IRA. Footnotes state these entities are controlled by or associated with Rady and that he disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 193,243 shares

Net Buy 8 txns

Insider RADY ERNEST S

Role Executive Chairman

Bought 193,243 shs ($4.35M)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.01 F1	100,000	$22.52	$2.25M
Purchase	Common Stock, par value $0.01 F1	93,243	$22.45	$2.09M
holding	Common Stock, par value $0.01 F2	--	--	--
holding	Common Stock, par value $0.01 F3	--	--	--
holding	Common Stock, par value $0.01 F4	--	--	--
holding	Common Stock, par value $0.01 F5	--	--	--
holding	Common Stock, par value $0.01 F6	--	--	--
holding	Common Stock, par value $0.01 F7	--	--	--

Holdings After Transaction: Common Stock, par value $0.01 — 8,652,531 shares (Indirect, By ERT); Common Stock, par value $0.01 — 2,267,022 shares (Indirect, By AAI); Common Stock, par value $0.01 — 1,275,336 shares (Indirect, By ICW); Common Stock, par value $0.01 — 1,209,021 shares (Indirect, By RF); Common Stock, par value $0.01 — 200,000 shares (Indirect, By EIC); Common Stock, par value $0.01 — 107,859 shares (Indirect, By ESRT); Common Stock, par value $0.01 — 66,680 shares (Direct)

Footnotes (7)

1. F1. Represents shares held by Ernest Rady Trust U/D/T March 10, 1983 ("ERT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
2. F2. Represents shares held by American Assets, Inc. ("AAI"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
3. F3. Represents shares held by Insurance Company of the West ("ICW"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
4. F4. Represents shares held by Rady Foundation ("RF"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
5. F5. Represents shares held by Explorer Insurance Company ("EIC"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
6. F6. Represents shares held by Evelyn Shirley Rady Trust U/D/T March 10, 1983 ("ESRT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
7. F7. Represents shares held by Ernest Rady IRA.

Key Figures

Shares purchased 2026-08-11: 100,000 shares at $22.52 Shares purchased 2026-08-10: 93,243 shares at $22.45 Total shares purchased: 193,243 shares +5 more

8 metrics

Shares purchased 2026-08-11 100,000 shares at $22.52 Indirect purchase by Ernest Rady Trust on 2026-08-11

Shares purchased 2026-08-10 93,243 shares at $22.45 Indirect purchase by Ernest Rady Trust on 2026-08-10

Total shares purchased 193,243 shares Net common shares bought across reported transactions

AAI indirect holding 2,267,022 shares Common stock held by American Assets, Inc. as of 2026-08-10

ICW indirect holding 1,275,336 shares Common stock held by Insurance Company of the West as of 2026-08-10

Rady Foundation holding 1,209,021 shares Common stock held by Rady Foundation as of 2026-08-10

Explorer Insurance holding 200,000 shares Common stock held by Explorer Insurance Company as of 2026-08-10

Direct IRA holding 66,680 shares Common stock held by Ernest Rady IRA as of 2026-08-10

Key Terms

beneficial ownership, pecuniary interest, indirect ownership, open market or private transaction, +1 more

5 terms

beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein"

indirect ownership financial

"Indirect holdings reported include shares held by entities directly controlled by the Reporting Person"

open market or private transaction financial

"transaction code P described as Purchase in open market or private transaction"

ten percent owner regulatory

"The reporting person is identified as a director, officer and ten percent owner"

FAQ

What insider transactions did AAT’s Ernest S. Rady report on this Form 4?

Ernest S. Rady reported two open-market purchases of American Assets Trust common stock, totaling 193,243 shares, executed on 2026-08-11 and 2026-08-10 through an affiliated trust for which he serves as trustee.

How many AAT shares did Ernest S. Rady buy and at what prices?

An affiliated trust bought 100,000 shares at $22.52 per share on 2026-08-11 and 93,243 shares at $22.45 per share on 2026-08-10, for a reported total purchase of 193,243 shares of American Assets Trust common stock.

Are Ernest S. Rady’s AAT purchases on a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is unchecked, and the footnotes do not describe any trading plan. The transactions are characterized as open-market or private purchases through the Ernest Rady Trust, not as plan-based trades.

What indirect AAT holdings related to Ernest S. Rady are reported in this Form 4?

Indirect holdings include 2,267,022 shares by American Assets, Inc., 1,275,336 by Insurance Company of the West, 1,209,021 by Rady Foundation, 200,000 by Explorer Insurance Company, and 107,859 by Evelyn Shirley Rady Trust.

Does Ernest S. Rady claim full beneficial ownership of the reported AAT shares?

Footnotes state Rady disclaims beneficial ownership of shares held by the listed entities and trusts, except to the extent of his pecuniary interest, even though he controls or serves as trustee for those entities.

What direct AAT ownership by Ernest S. Rady is shown in this Form 4?

The filing lists 66,680 shares of American Assets Trust common stock held directly by Ernest Rady IRA as of 2026-08-10, separate from the larger indirect holdings reported through various controlled entities and trusts.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/12/2026 - 04:17 PM Accepted by SEC EDGAR 08/12/2026 - 04:17 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

RADY ERNEST S

(Last) (First) (Middle)

C/O AMERICAN ASSETS TRUST, INC.

3420 CARMEL MOUNTAIN ROAD, SUITE 100

(Street)

SAN DIEGO CALIFORNIA 92121

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
American Assets Trust, Inc. [ AAT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01	08/10/2026		P		93,243	A	$22.45	8,552,531	I	By ERT(1)
Common Stock, par value $0.01	08/11/2026		P		100,000	A	$22.52	8,652,531	I	By ERT(1)
Common Stock, par value $0.01								2,267,022	I	By AAI(2)
Common Stock, par value $0.01								1,275,336	I	By ICW(3)
Common Stock, par value $0.01								1,209,021	I	By RF(4)
Common Stock, par value $0.01								200,000	I	By EIC(5)
Common Stock, par value $0.01								107,859	I	By ESRT(6)
Common Stock, par value $0.01								66,680	D(7)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares held by Ernest Rady Trust U/D/T March 10, 1983 ("ERT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

2. Represents shares held by American Assets, Inc. ("AAI"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

3. Represents shares held by Insurance Company of the West ("ICW"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

4. Represents shares held by Rady Foundation ("RF"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

5. Represents shares held by Explorer Insurance Company ("EIC"), which is directly controlled by the Reporting Person. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

6. Represents shares held by Evelyn Shirley Rady Trust U/D/T March 10, 1983 ("ESRT"), for which the Reporting Person is the trustee. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.

7. Represents shares held by Ernest Rady IRA.

Remarks:

	/s/ Meleana Leaverton, Attorney-in-fact	08/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)